We are often tempted to check the online review before choosing a particular brand these days, aren’t we?
On the other hand, in this virtually connected world, customers are often motivated to talk about your brand online. We do post our opinions on our social media handles.
Customer is, and will always be the king. You need to listen to your customers, know their expectations and reviews. And apparently, adapt to the changing times to ensure success in this highly competitive marketing world. That is where the importance of digital listening comes in.
Digital listening, huh?
Digital listening refers to the process of identifying and analysing the opinion of your customers about your product or service through digital communication channels.
Fortunately, there are multiple channels through which marketers can effectively interact with customers. Therefore, digital listening should ideally take place across multiple channels which in turn will enable marketers to get a balanced report regarding their brand.
Also Read :Trends in Business Analytics 2022
Social listening
An article in Mashable states that there are 3 billion users, which is around 40% of the human population in the world, in social media. No wonder a large share of digital listening happens in social media. The influence of social media is increasing on a rattling speed in the last five years.
Social listening is defined as the process of monitoring digital conversations to know what people are talking about your product or brand in social channels. In short, social listening monitors individual conversations and responses to your brand.
How does social listening benefit you?
Marketers can effectively take advantage of social listening tools to get feedback from the brand quickly. It helps to understand the pain points of the customers and address their concerns, complaints, and questions through social platforms.
The genuine feedback from the customers opens up opportunities to make the brand enticing. It helps in maintaining the brand reputation as well.
What about Social Media Analytics?
Social listening and social media analytics together will derive deep insights about your brand which can further lead to business benefits and hence, an integral part of digital marketing certification courses!
Although social listening and social analytics are interchangeably used, both of them have different definitions. Social analytics refers to the process of gathering data from different social media platforms and analysing it with the help of social media analytics tools.
Thinking of where to start your digital listening and analytics activities? It can be quite nerve-wracking. Even for experienced marketers, without sound knowledge in digital marketing. A digital marketing course makes the right step to start, however!
The amalgamation of technology and data has become a complicated one. With a massive amount of data being generated today, professionals are required to stay on their feet when it comes to business analytics. It helps in improved performance, better decision making, and the works. However, it requires an extensive amount of training and a unique skill set. For now, let’s see how it assists in improved decision making.
Also Read :Best Business Analytics Tools For Every Business Analyst
Business Analytics: The Pathway to Improved Decision Making
Be it supply chain, operational processes, research, or managing risks, business analytics has diverse applications. In fact, it is now emerging as the keystone of strategic business decision making. From enabling businesses to make customer-centric decisions to help them address critical operational inefficiencies, business analytics is drastically transforming the perception towards the importance of data.
Here’s how business analytics supports decision making in businesses:-
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Provides a Better Customer Experience
Analytics plays a significant role in decision making as it helps discover patterns from both employees as well as customers, allowing leaders to understand and interpret their interactions. This allows the leaders to work with the relevant departments to enhance the overall customer experience.
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Improves Overall Performance
By analyzing data, businesses can delve deeper into business operations and their efficiency. This not only helps maximize time and resource allocation but also ensures better performance across the entire company.
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Makes the Most Out of Consumer Patterns
Companies using customer behaviour insights are outperforming competitors by 85% in sales growth. – Mckinsey
In an increasingly customer-centric era, organizations are being forced to collect and analyze consumer information and data concerned with their behaviour, interests, etc. To remain competitive, businesses must leverage consumer insights to redefine their marketing and sales strategy.
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Conducts Better Risk Assessment and Management
Another key area that business analytics lends a hand is risk assessment and management. Whether it’s related to structured data or unstructured, analytics help forecast potential issues and threats. So by using this data, you can improve decision making in a crisis, eradicating the reactive style of management completely.
Also Read :Business Analytics – Meaning, Importance & Scope
How Does This Affect Professionals?
With evolving technology, the job of business analytics professionals has become challenging. Honing skills and updating knowledge is the only way forward, and since pursuing an MBA every time some new trend enter the market is not feasible, pursuing analytics online certified courses are the ideal choice.
Understand and Accept the Change
The world is going digital, be it sales, marketing, content, or education. For an in-depth knowledge into the business analytics domain, consider pursuing analytics online certified courses. One such course covering a wide array of skills is the business analytics online program from IIM Kozhikode. The program will equip you with the latest analytics tools, assisting in better decision making.
With a strong foothold in data analytics, you can not only build your organization’s performance but also facilitate growth. So, enroll for the business analytics online program from IIM Kozhikode today and make your way to a career in advanced business analytics.
More Information :
Basic Concepts of Digital Marketing
Dimensions of human resource management
Utilization of Funds in Financial Management
Advantages & Disadvantages Of Business Analytics
Decision making in Human Resource Management